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How high is the annual salary of CFA? Today, my senior apprentice will come and discuss this topic with everyone. Now, please follow the editor to take a look together~
In China, the salary of CFA licensees has always been a mystery. An email survey was conducted on the monthly salary of second level students who were enrolled and successfully received a PASS email.
In the first 100 valid data responses received, we found that although they both passed CFA level 2, the salaries of the students also showed significant differences, with a salary difference of up to 40k.
The proportions of within 10k and over 50k are 7% and 6%, respectively. However, the editor believes that these two sets of data may be closely related to personal abilities, and the more representative is 30k, which accounts for 36%.
Referring back to the "Top 10 Industries with the highest average monthly salary in 2018" released by BOSS direct recruitment earlier, although the financial industry ranks second, the average salary is only 10k, which is still a bit far from the average salary of CFA second level students. Just a second level CFA is several times higher than the average salary in the financial industry, let alone CFA holders.
In fact, there is a good example of CFA salary on Zhihu. A post-90s girl in Shangcai resigned from her current company, and the new company offered her an annual salary of 700000 after tax, which is an absolute pre tax annual salary of one million.
The only qualification she can obtain is a master's degree and CFA certificate from Shangcai, which matches her annual salary of one million yuan. In addition to her education and experience, the most important achievement can be said to be the CFA certificate.
Because in the process of preparing for the CFA exam, she not only met more peers and gained more resources, but also improved her own financial knowledge. The state of learning has steadily increased her own strength, so after obtaining the certificate, the combination of theoretical knowledge and practice has doubled her value.
1. CFA salaries vary
According to reference data, the average annual income of CFA holders is $190000 in the United States; 170000 US dollars in the UK; Singapore $113000; 196000 US dollars in Hong Kong; Canada has 108000 US dollars, while the current domestic figure is 149000 US dollars, with a global average of 178000 US dollars.
The nature of the employer varies, and the salary of CFA holders varies. Depending on the nature of the employer, the salary of the holder will also be affected. According to global standards, the salary of CFA holders employed by underwriters is generally $50400 per year, while that of trust companies is $77438 per year. The salary of CFA holders employed by self operated institutions and universities is $84792 per year and $80617 per year, respectively. The salary paid by non-profit organizations for hiring CFA holders is generally $90690 per year. In the United States, local governments hire CFA holders with a salary of $76041 per year, while the federal government provides a salary of $78467 per year.
Note * The above data is for reference only, and the specific job salary may vary slightly depending on the nature of the job, the size of the company, the length of service, and the nature of the employer!
What is the gold content of the first level candidate if I don't continue taking the exam after completing the first level? If I pass the first level exam, is it a good time to switch jobs?
Generally speaking, the first level is of great help for the recruitment of fresh students. For those with work experience, passing the first level is not convincing enough. It is recommended to focus on obtaining a certificate.
After taking the first level exam, switching jobs without considering other factors does have a certain bonus effect, but if the job hopping target is not a junior position, the role of the second level may be even greater.
According to PayScale, the world's largest salary statistics website, the average salary of CFA holders is approximately 92689 US dollars (approximately 657000 RMB). According to 44 salary samples, licensed financial analysts with 1-4 years of experience earn an average salary of 83191 US dollars (approximately 590000 RMB).
Practitioners holding CFA certificates earn around 24% more than colleagues without certificates. Some heads of financial institutions have also made it clear that they are more willing to offer higher salaries to employees holding international qualifications such as CFA, while also having higher expectations for them.
2. I only passed some CFA exams and have work experience. The average international salary is as follows:
Income of students who pass the CFA Level 1 exam:
Basic salary of RMB 240000+bonus of RMB 102400=RMB 342400
Income of students who pass the CFA Level 2 exam:
Basic salary of RMB 436000+bonus of RMB 156000=RMB 592000
Student income after passing the CFA Level 3 exam:
Basic salary RMB 514800+bonus RMB 423600=RMB 938400
In addition, another study conducted by InvestmentNews and consulting firm Moss Adams showed that financial advisors holding CFA certification earn about 24% more money than registered financial planners and 23% more than advisors holding a certified public accountant certificate.
There is no doubt that the salary of CFA holders is high, but the specific salary is also influenced by many factors. For example, the size of the company, the local salary level, and the nature of the job.
It is precisely because of other factors that when I first joined the company, the salary gap was not much different, or the gap was basically zero. However, in the future, it will be discovered that people who have taken the CFA certificate are promoted faster than those who have not.
